CTS (NYSE:CTS) Stock Rating Upgraded by StockNews.com

CTS (NYSE:CTS) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Thursday.

Separately, Scotiabank downgraded CTS from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 25th.

CTS Price Performance

Shares of CTS stock traded down $0.18 during trading hours on Thursday, reaching $51.43. 80,408 shares of the company’s stock were exchanged, compared to its average volume of 121,461. The business has a fifty day moving average of $53.88 and a two-hundred day moving average of $50.58. The company has a quick ratio of 1.91, a current ratio of 2.46 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $1.55 billion, a P/E ratio of 26.51 and a beta of 0.60. CTS has a 1 year low of $40.09 and a 1 year high of $59.68.

CTS (NYSE:CTS) last announced its quarterly earnings data on Tuesday, October 29th. The electronics maker reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.06. CTS had a net margin of 11.66% and a return on equity of 12.39%. The company had revenue of $132.42 million during the quarter. During the same period in the prior year, the company posted $0.54 EPS. As a group, research analysts predict that CTS will post 2.15 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Kieran M. O’sullivan sold 12,794 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $55.50, for a total value of $710,067.00. Following the transaction, the chief executive officer now owns 400,456 shares of the company’s stock, valued at $22,225,308. This represents a 3.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 59,956 shares of company stock valued at $3,331,185 in the last 90 days. Company insiders own 2.00% of the company’s stock.

Institutional Trading of CTS

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Choreo LLC acquired a new position in CTS in the second quarter valued at about $235,000. American Century Companies Inc. lifted its holdings in shares of CTS by 14.2% in the 2nd quarter. American Century Companies Inc. now owns 52,520 shares of the electronics maker’s stock worth $2,659,000 after acquiring an additional 6,528 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in shares of CTS by 11.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 26,607 shares of the electronics maker’s stock worth $1,347,000 after purchasing an additional 2,667 shares during the period. Renaissance Technologies LLC boosted its position in shares of CTS by 0.4% during the 2nd quarter. Renaissance Technologies LLC now owns 170,000 shares of the electronics maker’s stock worth $8,607,000 after purchasing an additional 700 shares during the period. Finally, XTX Topco Ltd acquired a new stake in CTS in the 2nd quarter valued at approximately $271,000. 96.87% of the stock is owned by institutional investors and hedge funds.

About CTS

CTS Corporation manufactures and sells sensors, actuators, and connectivity components in North America, Europe, and Asia. The company provides encoders, rotary position sensors, slide potentiometers, industrial and commercial rotary potentiometers. It also provides non-contacting, and contacting pedals; and eBrake pedals.